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Investors Credited with 40,000 Job Starts

Tuesday, January 26, 2010

Report says venture capitalists contributed $1.1 billion to Northeast Ohio companies over past five years

Excerpt of story provided by Akron Beacon Journal
Written by Paula Schleis


A new report says venture capitalists and angel investors poured $1.1 billion into Northeast Ohio in the past five years, supporting 183 companies and fueling some 40,000 jobs.

The 2009 Venture Capital Report being released today also notes that while seed-stage investment in the country declined 38 percent last year, investor attention to Northeast Ohio start-ups climbed to its highest level in four years.

''Support of seed-stage investments is reflective of a thriving entrepreneurial environment and demonstrates that the Cleveland Plus area supports the acceleration of its young, innovative, technology-based companies,'' the report concluded...
 
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